Business News
Interline Announces NorthCut Refinery Funding Plan
2008-08-08 07:00:00
Interline Announces NorthCut Refinery Funding Plan
ALPINE, Utah, Aug. 8 /EMWNews/ -- Interline Resources Corporation (OTC: IRCE): today announced that is has reached agreement to delay interest payments for financing on its NorthCut Refinery. A spokesman for Interline Resources stated, "Discussions with Private Capital Group (PCG), the constructing lending source for the NorthCut Refinery, has led to a joint agreement to delay the payment of accrued interest on construction financing to mid-November 2008. We are proud to have PCG as an engaged and active partner in bringing this project to a reality. This agreement allows NorthCut the time and flexibility to acquire optimal long term financing. The construction is complete and we are only awaiting a final gas connection into an intrastate line that has been contracted with Anadarko in order to become fully operational." The refinery is located 20 miles north of Douglas, Wyoming in the energy rich Powder River Basin. Photos of the entire construction process to completion may be viewed at http://www.northcutrefining.com Note: The statements released by Interline that are not purely historical are considered to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within Interline's control. These factors include, but are not limited to, economic conditions generally and in the markets in which Interline may participate, competition within Interline's markets and failure by Interline to successfully develop business relationships.
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